Germany Pushes MiCAR as Banks Open Regulated Crypto Access
- Germany approved dozens of MiCAR licenses by late 2025 under firm BaFin oversight.
- DZ Bank gained approval for meinKrypto as crypto trading enters cooperative banking.
- MiCAR rules link digital assets with banks through licensed custody and execution.
Germany’s second-largest financial institution, DZ Bank, has achieved a major regulatory milestone by securing approval under the European Union’s Markets. The Crypto-Assets Regulation (MiCAR) offers cryptocurrency trading services through its new platform, meinKrypto. At the very end of December 2025, the German Federal Financial Supervisory Authority (BaFin) gave the green light for the authorization, which was a significant step in the traditional banking sector’s acceptance of digital assets under a completely regulated system.
At the same time, BaFin has shown little tolerance for incomplete applications. The regulator rejected Ethena GmbH’s request for authorization, a decision that signaled how narrow the compliance corridor has become. From that point on, market access increasingly flowed through regulated platforms rather than standalone crypto firms.
One of those platforms now sits inside the traditional banking system. DZ Bank has secured approval to offer crypto-asset trading through its meinKrypto platform. The move ties digital asset access directly to Germany’s cooperative banking network.
A Faster Clock for Compliance
Germany chose to move quickly than the wider European Union. While MiCAR allows an 18-month transition period, German authorities opted for a 12-month window. Existing crypto firms faced tighter deadlines, and many rushed to restructure operations.
According to a Structured Retail Products report, licensing activity surged as a result. By the end of 2025, BaFin had completed reviews for dozens of applicants, and a few cleared the process. The regulator also approved MiCAR-compliant structures linked to established financial institutions, including Deutsche Bank’s securities subsidiary and Bitpanda Asset Management.
This approach reshaped the market. Firms that met capital, governance, and reporting requirements stayed active. Those who failed to adjust lost their entry point. Germany’s crypto sector began to look less fragmented and more institutionally aligned.
meinKrypto Enters the Cooperative Network
DZ Bank’s meinKrypto platform was built for the cooperative banking system. It serves Volksbanken and Raiffeisenbanken, which together form one of Germany’s largest retail banking networks. Each cooperative bank must still notify BaFin before offering the service.
That requirement allows staggered adoption. Some banks may move quickly. Others may wait. The structure keeps regulatory oversight intact while giving individual institutions room to plan their rollout.
The timing reflects MiCAR’s wider role. Finalized in 2023 and fully applied in 2025, the framework introduced uniform rules for crypto issuance, trading, and custody across the EU. For DZ Bank, operating inside that framework was a prerequisite rather than a formality.
Related: Santander’s OpenBank Launches Retail Crypto Trading in Germany
Familiar Systems, Regulated Rails
meinKrypto connects directly to the VR Banking App. Customers can trade digital assets and manage holdings without leaving their usual banking interface. The setup mirrors traditional online banking rather than standalone crypto platforms.
Custody services come from Boerse Stuttgart Digital Custody, which operates under a crypto license. Trade execution runs through EUWAX. Both partners work within MiCAR’s operational and reporting standards.
These arrangements address long-standing concerns around custody and execution. They also reflect how MiCAR has reshaped infrastructure choices. Licensed providers now rely on regulated partners instead of bespoke or offshore solutions.
